Medtronic buys selected Titan Medical patent rights
Titan Medical sold selected robotic-surgery patent rights to Medtronic and granted a non-exclusive licence to additional intellectual property.
Evidence notes
- Titan announced the asset purchase and licence agreement on June 5, 2023, with an upfront payment of US$8 million.
- Medtronic acquired patents it had previously licensed under the companies' 2020 agreements and received a non-exclusive licence to other Titan IP.
- Titan retained ownership of the additionally licensed IP and received a limited licence back to the acquired rights.